An Italian restaurant owned by the same family for 10 years has been sold.
Cornerstone Business Agents said the lease for Rigatoniâs on South Clerk Street in the Scottish capital changed hands for over the asking price of ÂŁ70,000.
It said that âanother exciting operatorâ has leased what was a well-established restaurant that went on the market late last year.
The business has an âexcellent high profile trading area close Edinburgh University, and high daily footfall in a busy localeâ.
âThe business is situated directly across from The Queen's Hall which is a popular live entertainment and festival venue,â Cornerstone said. âThe Festival Theatre is also a short stroll from the property.
âThere is a wide range of complimentary catering, retail and hospitality businesses in this part of the city as well as a wide demographic of residential dwellings both privately owned and student accommodation.
âPopular locations in Edinburgh such as Princes Street, Meadows, Grassmarket, Arthur's Seat and Holyrood Park are all located within 15 minutesâ walk from the property.
âEdinburgh continues to be a hugely popular destination for visitors from all over the world with its fascinating history and excellent location as a base for visiting the remainder of the country.â
Barry McNeil, of Cornerstone, said: âCornerstone Business Agents are delighted to have secured another exciting operator for Edinburgh's South Side. This is our fourth sale on the street in the last six months.
âWe are equally delighted to have acted very swiftly for our clients and achieving a price over asking.â
Cornerstone did not disclose the value of the deal, but the property was earlier advertised at a ÂŁ70,000 premium and ÂŁ20,000 a year rent.
Scottish Gas profits surge as energy bill rules relaxed
British Gas, which trades as Scottish Gas in this country, has posted a 10-fold increase in profits after industry regulator Ofgem relaxed restrictions on how much money energy companies can make from their customers.
Operating profits at British Gas during the year to the end of December surged to £751 million, up from £75m in 2022, after Ofgem increased how much profit suppliers can claim from household bills to make up for costs incurred during the Covid pandemic.
UK in recession after bigger-than-expected year-end contraction
Britainâs economy slipped into a recession at the end of 2023 after output contracted by more than expected in the final three months, according to official figures.
The Office for National Statistics (ONS) estimated that gross domestic product (GDP) fell by 0.3% in the fourth quarter, following a decline of 0.1% in the previous three months. It means that the economy entered a technical recession, as defined by two or more quarters in a row of falling GDP.
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